A joint venture is simply a co-operative agreement between two entities, businesses or individuals to work together in making money online. They will pool their resources together, and of course, share in the harvest together as well. This kind of allying is common in traditional business as well, such as that between technology companies to research new technologies together.
There are two kinds of agreements in joining resources possible. Here are the two 2 ways to approach joint ventures in making money online: 1) The Internal Joint Venture, and 2) The External Joint Venture.
The Internal Joint Venture type allows the group in agreement to share more 'intimate' resources such as administration system, accounting, sales system and database, and private information not normally shared between businesses. These businesses often go on to develop joint products or offers with their pooled resources. Resources and profits are shared.
The External Joint Venture type are more commonly seen, especially in the online arena. In this kind of ally agreement, usually the more private information and resources such as sales and admin systems are not shared. Each of those parties in the agreement to share resources will remain as separate businesses. The most common type of sharing is to complement one another's business. Eg an online business may not have the right product or offer for their target customers. Another business may not have the customer base to sell to, but do have a good product or service. These two businesses can join efforts to share their products and customer base, and synergistically share on the marketing efforts to share in the temporary profits. The profits split will depend on the initial agreement that depends usually on the resources put in by each party.
The whole internet marketing game takes time to master, so learn from those who have been there to shorten your learning time, and avoid painful mistakes.